Deals25 Aug 2026, 06:01 pm
Arvind Ltd Terminates TU28 Deal, Invests in TU12 & TU21
AI Summary
Arvind Limited has terminated its Power Transfer Agreement (PTA) and Share Subscription and Shareholders Agreement (SSHA) with Torrent Urja 28 Private Limited (TU28) due to reallocation of capacity. No equity was infused in TU28. Concurrently, Arvind has entered into new agreements with Torrent Urja 12 Private Limited (TU12) and Torrent Urja 21 Private Limited (TU21) to procure renewable power. The company will acquire 13.30% equity in TU12 for up to ₹3.47 Crores and 26.60% equity in TU21 for up to ₹17.33 Crores, aiming to offtake electricity generated from these hybrid power projects in Gujarat.
Key Highlights
- Arvind Ltd terminated agreements with Torrent Urja 28 Private Limited.
- No equity infusion occurred in TU28; no prior investment held.
- New agreements signed with TU12 and TU21 for renewable power procurement.
- Arvind to acquire 13.30% stake in TU12 for up to ₹3.47 Crores.
- Arvind to acquire 26.60% stake in TU21 for up to ₹17.33 Crores.
Price Impact
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